During this video, Michael will provide you with an in-depth analysis of our current real estate market here in the GTA. The overall average selling price in August 2019 was $792,611, which is up from $765,252 from August 2018.
Broadly speaking, the increased competition between buyers for active listings has resulted in strong price growth for semi-detached houses, townhouses, and condominium apartments. However, the detached market segment, which has been impacted most by the stress test, has had a slower pace of price growth... the average detached price is now lower than last year's average price in some parts of the GTA.
The demand for more expensive homes was quite low in 2018 and has to some extent rebounded in 2019... albeit not back to the record levels that were experienced in the first quarter of 2017, and throughout 2016.
Many sellers have removed their listings from the market within the past couple of months, which has caused many areas to have a shortage of listings from buyers to choose from. This makes it an ideal time to put your home up for sale, as new buyers will be entering the market every day. Choosing Michael To Buy Or Sell Will Be A GREAT Decision! 416-671-5218